What periodic payment should he invest at the beginning

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1. Gary wants to purchase a beach condo in 7 years for $100,000. What periodic payment should he invest at the beginning of each quarter to attian the goal, assuming an annual earnings rate of 11% compounded quarterly?

2. Bucksnort, Inc., has an odd dividend policy. The company has just paid a dividend of $8 per share and has announced that it will increase the dividend by $4 per share for each of the next five years, and then never pay another dividend. If you require a return of 11 percent on the company’s stock, how much will you pay for a share today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Reference no: EM131978276

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